Management's Report Might Include Additional Information Other Than Their Assessment

question 71

Multiple Choice

Management's report might include additional information other than their assessment of the effectiveness of internal controls over financial reporting.The auditor should

• A)Review the information and comment appropriately in the auditor's report
• B)Request that management remove such information from their assessment
• C)Disclaim the information
• D)Include a paragraph in the auditor's report explaining that the additional information is apart from the assessment by management

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Definitions:

Population Parameters

Quantitative characteristics or attributes defining a whole population, such as mean or standard deviation.

Sampling Distribution

The sampling distribution is a probability distribution of a statistic obtained through a large number of samples drawn from a specific population.

Standard Error

A statistical measure that quantifies the amount of variability or dispersion of a sample mean relative to the true population mean.

Normal Population

A population in which the distribution of variables follows a normal (Gaussian) distribution, characterized by a symmetric bell-shaped curve.